Sheridan Inc. is a book distributor that had been opcrating in its original facility since 1987. The incrcasc in certification programs and continuing cducation rcquirements in sevcral professions has contributed to an annual growth rate of 15% for Sheridan sincc 2012. Sheridan'original facility became absoleteby early 2017 because of the increased sales volume and the fact that Sheridan now carries CDs in addition to boaks On Junc 1, 2017, Shcridan contracted with Black Construction to have a new building constructed for $4,240,000 on land owned by Sheridan. The payments made by Sheridan to Black Construction are shown in the schedule below. Amount $954,000 January 30, 2018 1590000 May 30,2018 1696000 Total payments $4.240,000 Date July 30, 2017 Construction was completed and the building was ready for occupancy on May 27,2018. Sheridan had no new borrowings directly associated with the new building but had the following debt outstanding at May 31,2018, the end of its fiscal year 10%, 5-year note payable of $2.120,000, dated April 1, 2014, with interest payable annually on April 1. 12%, 10-year bond issue of $3,180,000 sold at par on June 30, 2010, with interest payable annually on June 30. The new building qualifies for interest capitalization. The effect of capitalizing the interest on the new building, compared with the effect af expensing the interest, is material Compute the weighted-average accumulated expenditures on Sheridan's new building during the capitalization period. Weighted-Average Accumulated Expenditures$ Compute the avoidable interest on Sheridan's new building Round intermediate percentage calculation to 1 decimal place, eg 15.6% and final answer to 0 decimal places, eg 5,125 Avoldable Interest $ Some interest cost of Sheridan Inc. is capitalized for the year ended May 31, 2018, Compute the amount of cach items that must be discloscd in Sheridan's financial statements Total actual interest cost$ Total interest capitalized Total interest cxpensed